Aw Geez, Ron. You've embarrassed me into spilling my guts.
Insurance for my 1977 150M was right around $600 per year.
Newbies will pay a bit more; greybeards a bit less.
My tie-down was $25 per month. At my place, hangers are at least $200 per month.
But someone has to die first.
No hail around here, outside is fine.
In the mid-west, a hanger is essential.
Insurance, storage, and taxes will be your fixed costs.
They are also pretty easy to figure up front.
If you have the dough, pay for the airplane and be done with it. If not, consider using a home equity loan (if you own a home). Anywho, if you borrow money, include the payment in your budget.
Ron is correct, most owners fly 50 to 100 hours per year.
I flew 200 in each of my first 2 years.
Direct operating costs (gas, oil, etc.) are also pretty easy to figure.
The big unknown, and Ron alluded to it, is maintenance.
There is just no way to know what will happen.
Ofcourse you can get a pre-purchase inspection.
Unfortunately, it is possible to do everything right
and still have everything go wrong.
You will also be interested in upgrades.
It doesn't matter what you want. It'll be expensive.
So what about some actual numbers.....
I owned my 150 for 705 days and flew it 407.3 hours.
(And had a GREAT time, BTW)
I burned up 2447.1 gallons of gas (6.01 GPH)
- Fuel $4494.58 (11.04/hr)
- Oil $657.51 (1.61/hr)
- Maintenance $18642.03 (45.77/hr)
- Upgrade $1048.56 (2.57/hr)
- Insurance $1328.99 (3.26/hr)
- Taxes $1287.00 (3.16/hr)
- Parking $1108.56 (2.72/hr)
- Total $28567.22 (70.14/hr)
And what about my 172M? That's running right around $63/hr
It was closer to $50, but I just loaded up on interior parts.